Balance sheet data for Hanes Company on December 31, the end of the fiscal year,

Question

Balance sheet data for Hanes Company on December 31, the end of the fiscal year, are shown below. 2014 2013 Current assets $314,360 $170,730 Property, plant, and equipment 650,400 593,490 Intangible assets 119,240 48,780 Current liabilities 238,480 146,340 Long-term liabilities 401,080 292,680 Common stock 97,560 97,560 Retained earnings 346,880 276,420 Hide Prepare a comparative balance sheet for 2014 and 2013, stating each asset as a percent of total assets and each liability and stockholders' equity item as a percent of the total liabilities and stockholders' equity. If required, round percentages to one decimal place. Hanes Company Comparative Balance Sheet December 31, 2014 and 2013 2014 Amount 2014 Percent 2013 Amount 2013 Percent Current assets $ 314,360 % $ 170,730 % Property, plant, and equipment 650,400 % 593,490 % Intangible assets 119,240 % 48,780 % Total assets $ 1,084,000 % $ 813,000 % Current liabilities $ 238,480 % $ 146,340 % Long-term liabilities 401,080 % 292,680 % Common stock 97,560 % 97,560 % Retained earnings 346,880 % 276,420 % Total liabilities and stockholders' equity $ 1,084,000 % $ 813,000 %

Explanation / Answer

Comparative Balance Sheet of Hanes Company As on December 31, 2014 and as on december 31, 2013 Increase/(Decrease) 2014 Perecntage of Total Asset 2013 Perecntage of Total Asset Current Assets 1,43,630 3,14,360 29.0 1,70,730 21.0 Property, plant, and equipment 56,910 6,50,400 60.0 5,93,490 73.0 Intangible assets 70,460 1,19,240 11.0 48,780 6.0 Total Asset 10,84,000 100 8,13,000 100 Current Liabilities 92,140 2,38,480 22.0 1,46,340 18.0 Long Term Liabilities 1,08,400 4,01,080 37.0 2,92,680 36.0 Common Stock -   97,560 9.0 97,560 12.0 Retained Earning 70,460 3,46,880 32.0 2,76,420 34.0 Total Liabilities and Stockholder's Equity 10,84,000 100.0 8,13,000 100.0

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